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▲ Ripple, RLUSD/ChatGPT Generated Image
As Ripple's stablecoin RLUSD integrates into Wanchain's (WAN) cross-chain bridge infrastructure, a financial superhighway connecting the XRP Ledger with the Cardano (ADA) and Ethereum (ETH) ecosystems has opened.
According to a report by the virtual asset specialized media The Crypto Basic on April 28 (local time), Wanchain officially supports RLUSD in its bridge infrastructure. This integration allows users to move RLUSD between major networks such as the XRP Ledger, Cardano, and Ethereum without going through centralized exchanges. Wanchain has strengthened ecosystem connectivity by supporting not only bidirectional transfers between the XRP Ledger and Cardano but also seamless movement between Ethereum and Wanchain.
RLUSD's market indicators are showing growth alongside the news of this bridge expansion. Currently, RLUSD's market capitalization is approximately $1.6 billion, and its 24-hour trading volume has surged by over 91% to $80.45 million. Notably, the supply on the Ethereum network has exceeded 1.2 billion RLUSD, and approximately 382 million RLUSD is circulating on the XRP Ledger, showcasing its liquidity. With the expansion of bridge infrastructure, the problem of liquidity fragmentation that occurs when virtual assets move across multiple networks is expected to be resolved, leading to an increase in practical use cases.
Jack McDonald, Senior Vice President of Ripple's stablecoin division, emphasized that stablecoins are a key gateway for decentralized finance and institutional investor adoption. McDonald stated that RLUSD, as the first stablecoin to be regulated under the New York Department of Financial Services (NYDFS) trust regulations, will set the standard for simultaneously achieving on-chain efficiency and regulatory compliance. RLUSD is recognized as an asset usable by institutional investors, featuring a transparent collateral structure that is 1:1 matched with cash and short-term U.S. government bonds.
RLUSD is currently accelerating its multi-chain vision by preparing to expand into Ethereum Layer 2 networks such as Optimism (OP) and Base (BASE). It is also increasing its global accessibility, including being listed on Coinone, a domestic virtual asset exchange. The connection with the Cardano ecosystem through the Wanchain bridge is expected to be a milestone for RLUSD, establishing it as a core liquidity layer for various decentralized applications beyond just a payment method. In the XRP ecosystem, where decreasing supply and increasing demand coincide, RLUSD is acting as a driving force for institutional capital inflow.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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